Technically yes. But then it has to stay close to the mixer. If I want to play with it on a synth on the other side of the room such as the AX80 I can't just plop it on top of that synth without trailing 2 25 foot long audio cables along with it across the room. The point of it being a stompbox is defeated. I like to go and play my various instruments in place. A pedal ought to be portable so that it works independently of the studio infrastructure.
I also enjoy playing synths through guitar/bass amps. Especially the AX80. But in this I'd have to run the pedal on a send and then route a mix output from the mixer to the amp. Now it's 3 cables back and forth connecting gear powered from different outlets and an amp, that's just asking for ground loop problems.

I've never had any modulation pedal with no wet/dry mix. I can't understand that design decision, the pedal is useless for guitarists and most folks buying it for synths will be very disappointed. Weird.